December 23, 2011

Buyers and Multiple Offers

by David Ursino

Throughout the year, we’ve had a really strong seller’s market. There hasn’t been a lot of inventory and interest rates have been really low creating a lot of demand. That’s created a lot of multiple offers.

Often times, the listing agent will set a specific date for the offers to come in for a property and there’s been so much interest in the property obviously from the low interest rates and the low inventory, that all of a sudden there’s more than one offer on the property. It’s common to see 4-6 offers on a property being sold as long as it’s priced well and it’s well marketed. Obviously that’s not the greatest experience for a buyer.

However, if you go in with a capable agent and you have a strong plan, you work with your agent to figure out the value of the property and set your maximum limit that you’re willing to pay for the home and don’t go above that. That way you don’t get caught up in the emotional circumstances that get involved with multiple offers. But success can be had when working through multiple offers as long as you’re doing it with a capable agent; someone who’s diligent, someone that looks after you and he/she’s making sure that you’re making a logical decision.

originally published 10/21/11

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About the Contributor

Vaughan real estate agent David Ursino brings a novel approach to real estate in Vaughan. Through over 10 years of successful sales and marketing experience, David understands the value of building great relationships with customers. He is dedicated to delivering the highest level of service and brings his passion to each and every real estate transaction. Being Vaughan’s first real estate video blogger, David knows what it takes to succeed in today’s online market. He specializes in the Woodbridge, Maple, Kleinburg and Thornhill areas. Learn more about Vaughan real estate agent David Ursino.